Exhibit 99.1

 

Nano Dimension Reports First Quarter 2025 Financial Results

 

Core Business Revenue of $14.4 Million, 8% Higher Year-Over-Year

 

Conference Call Today at 4:30 PM EDT

 

WALTHAM, Mass., June 12, 2025 (GLOBE NEWSWIRE) -- Nano Dimension Ltd. (Nasdaq: NNDM) (“Nano Dimension” or the “Company”), a leader in Digital Manufacturing solutions, today announced its financial results for the first quarter ended March 31, 2025.

 

The following information does not reflect the results or impact of Desktop Metal, Inc. (“Desktop Metal”) or Markforged Holding Corporation (“Markforged”) unless stated otherwise, as transactions concerning these companies were completed after the conclusion of the first quarter.

 

First Quarter 2025 Highlights

 

Revenue: $14.4 million, an 8% increase from $13.4 million year-over-year

 

Gross Margin (“GM”): 41%, down from 46% year-over-year

 

Adjusted Gross Margin (“Adjusted GM”): 44%, down from 50% year-over-year

 

Adjusted EBITDA loss: $9.0 million, down from a loss of $13.6 million or 33% improved year-over-year

 

Net Loss: $24.0 million, down from a loss of $35.0 million or 31% improved year-over-year

 

Total Cash, cash equivalents, deposits and investable securities: $840 million as of March 31, 2025, down from $907 million year-over-year

 

Details regarding Adjusted EBITDA and Adjusted Gross Margin can be found below in this press release under “Non-IFRS Measures.”

 

Ofir Baharav, Chief Executive Officer, commented, “In spite of the challenging economic environment, we were able to grow revenue while meeting our cost cutting commitments. Our transformation is well underway as we focused the Core business on the most impactful, high-performance customer solutions, and applied a disciplined operating model to drive efficiency and long-term value creation. We took action designed to realize more than $20 million in annualized operating costs savings from Q4 2025 onwards, targeting an improvement of revenue per employee of approximately 50% over historical levels.

 

“Since our Markforged acquisition in April 2025, we’ve been applying the same rigorous approach to ensure their alignment with our financial and operational standards and we are well on our way to realize operational synergies, along with product and customer focus.

 

“This is a pivotal time for Nano Dimension. We remain focused on building a scalable, profitable platform, and will continue updating shareholders, including in regard to Desktop Metal’s ongoing strategic assessment.”

 

Business Transformation & Recent Developments

 

Core Business Strategic Review: Delivered $20 million in annualized cost savings from Q4 2025 onwards through:

 

Discontinuation of underperforming product lines including Admatec, DeepCube, Fabrica, and Formatec.

 

Targeted headcount reductions and process optimization while preserving investment in high-growth areas.

 

 

 

 

Desktop Metal Acquisition (Closed April 2, 2025):

 

Desktop Metal has initiated an independent strategic assessment to address liabilities and liquidity issues.

 

Markforged Acquisition (Closed April 25, 2025):

 

Post-merger integration underway, following the same playbook applied to Core business.

 

Operational Leveraging:

 

Reviewing manufacturing footprint for optimization opportunities.

 

Unifying software division to build a scalable platform and reduce backend costs.

 

Product Innovation:

 

Launched FOX Ultra and PUMA Ultra, next-gen SMT solutions from Essemtec.

 

Corporate governance:

 

Strengthening of board of directors with the addition of technology and growth experts Andy Sriubas and Eileen Tanghal (June 11, 2025)

 

Financial results in detail

 

First Quarter 2025 Financial Results

 

Total revenues for the first quarter of 2025 were $14.4 million, compared to $13.4 million in the first quarter of 2024. The increase is attributed mostly to increased sales efforts for Nano Dimension’s diversified product portfolio.

 

Total cost of revenues for the first quarter of 2025 was $8.5 million, compared to $7.2 million in the first quarter of 2024. The increase is mainly attributed to the above-mentioned increase in revenues.

 

Research and development (“R&D”) expenses for the first quarter of 2025 were $5.0 million, compared to $9.1 million in the first quarter of 2024. The decrease is mainly attributed to a decrease in payroll and related expenses, share-based payments, subcontractor and professional fees and other R&D expenses.

 

Sales and marketing (“S&M”) expenses for the first quarter of 2025 were $5.5 million, compared to $6.5 million in the first quarter of 2024. The decrease is mainly attributed to payroll and related expenses, as well as share-based payments and other S&M expenses.

 

General and administrative (“G&A”) expenses for the first quarter of 2025 were $3.5 million, compared to $9.6 million in the first quarter of 2024. The decrease is mainly attributed to a decrease in share-based payments, professional services and payroll and related expenses.

 

Other expenses for the first quarter of 2025 were $30.8 million, compared to other income, net of $109 thousand for the first quarter of 2024. In the first quarter of 2025 the amount is mainly attributed to Desktop Metal litigation related expenses.

 

Net loss attributable to owners for the first quarter of 2025 was $23.8 million or $0.11 loss per share, compared to net loss of $34.8 million, or $0.15 loss per share, in the first quarter of 2024.

 

Conference Call Today

 

Nano Dimension will host a conference call to discuss its financial results and strategic outlook today, June 12, 2025, at 4:30 p.m. EDT.

 

Participants can also dial-in/connect by following the below:

 

Listen in via US dial-in: 1-844-695-5517

 

Listen via international dial-in: 1-412-902-6751

 

Listen and view presentation via webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=uKTBW5Ak

 

For those unable to participate in the conference call, there will be a replay available from a link on Nano Dimension’s website at

http://investors.nano-di.com/events-and-presentations.

 

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About Nano Dimension

 

Driven by strong trends in onshoring, national security, and increasing product customization, Nano Dimension (Nasdaq: NNDM) delivers advanced Digital Manufacturing technologies to the defense, aerospace, automotive, electronics, and medical devices industries, enabling rapid deployment of high-mix, low-volume production with IP security and sustainable manufacturing practices.

 

For more information, please visit https://www.nano-di.com/.

 

Forward-Looking Statements

 

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding Nano’s future growth, strategic plan and value to shareholders, and all other statements other than statements of historical fact that address activities, events or developments that Nano intends, expects, projects, believes or anticipates will or may occur in the future. Such statements are based on management’s beliefs and assumptions made based on information currently available to management. These forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company’s actual results and performance to be materially different from those expressed or implied in the forward-looking statements. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, estimates and uncertainties that are difficult to predict. Because such statements deal with future events and are based on the current expectations of Nano, they are subject to various risks and uncertainties. The forward-looking statements contained or implied in this communication are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Nano’s annual report on Form 20-F filed with the Securities and Exchange Commission (the “SEC”) on May 12, 2025, and in any subsequent filings with the SEC. Except as otherwise required by law, Nano undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this communication.

 

Contacts:

 

Investors: nano-di@icrinc.com
Media: NanoDimension@feintuchpr.com

 

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Unaudited Consolidated Statements of Financial Position as at

(In thousands of USD)

 

   March 31,   December 31, 
   2024   2025   20241 
   (Unaudited)   (Unaudited)     
Assets            
Cash and cash equivalents   251,858    487,438    317,169 
Bank deposits   541,164    257,227    440,790 
Restricted deposits   60    60    537 
Trade receivables   11,840    12,300    9,141 
Other receivables   6,419    5,076    4,790 
Inventory   19,698    16,832    16,899 
Total current assets   831,039    778,933    789,326 
                
Restricted deposits   879    766    768 
Investment in securities   112,657    94,915    86,190 
Property plant and equipment, net   16,078    13,057    14,143 
Right-of-use assets   11,084    8,484    9,307 
Intangible assets   2,235    2,076    2,155 
Total non-current assets   142,933    119,298    112,563 
Total assets   973,972    898,231    901,889 
                
Liabilities               
Trade payables   4,123    30,685    4,249 
Other payables   21,837    18,798    22,461 
Current portion of lease liability   4,317    3,921    3,968 
Current portion of bank loan   138    142    138 
Total current liabilities   30,415    53,546    30,816 
                
Liability in respect of government grants   1,989    873    843 
Employee benefits   4,009    4,827    4,700 
Long term lease liability   7,900    5,855    6,547 
Bank loan   380    248    276 
Total non-current liabilities   14,278    11,803    12,366 
Total liabilities   44,693    65,349    43,182 
                
Equity               
Non-controlling interests   857    491    715 
Share capital   404,366    410,973    409,145 
Share premium and capital reserves   1,298,973    1,300,382    1,304,617 
Treasury shares   (149,461)   (167,651)   (167,651)
Foreign currency translation reserve   1,249    1,625    1,044 
Remeasurement of net defined benefit liability (IAS 19)   (726)   (2,062)   (2,062)
Accumulated loss   (625,979)   (710,876)   (687,101)
Equity attributable to owners of the Company   928,422    832,391    857,992 
Total equity   929,279    832,882    858,707 
Total liabilities and equity   973,972    898,231    901,889 

 

 

1The December 31, 2024, balances were derived from the Company’s audited annual financial statements

 

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Unaudited Consolidated Statements of Profit or Loss and Other Comprehensive Income

(In thousands of USD, except per share amounts)

 

   Three Months Ended   Year ended 
   March 31,   December 31, 
   2024   2025   2024 
Revenues   13,364    14,401    57,775 
Cost of revenues   7,142    8,392    31,125 
Cost of revenues - write-down of inventories and amortization of technology   44    103    1,655 
Total cost of revenues   7,186    8,495    32,780 
Gross profit   6,178    5,906    24,995 
Research and development expenses   9,133    4,977    37,157 
Sales and marketing expenses   6,517    5,506    26,951 
General and administrative expenses   9,602    3,472    40,059 
Other expenses (income), net   (109)   30,810    5,966 
Impairment losses       1,229    1,283 
Operating loss   (18,965)   (40,088)   (86,421)
Finance income   11,311    18,035    43,540 
Finance expenses   27,324    1,935    53,645 
Loss before taxes on income   (34,978)   (23,988)   (96,526)
Taxes (expenses) benefit   16    (23)   (397)
Loss for the period   (34,962)   (24,011)   (96,923)
Loss attributable to non-controlling interests   (190)   (236)   (1,029)
Loss attributable to owners   (34,772)   (23,775)   (95,894)
                
Loss per share               
Basic loss per share   (0.15)   (0.11)   (0.44)
                
Other comprehensive income items that after initial recognition in comprehensive income were or will be transferred to profit or loss               
Foreign currency translation differences for foreign operations   (1,704)   593    (1,944)
Other comprehensive income items that will not be transferred to profit or loss               
Remeasurement of net defined benefit liability (IAS 19), net of tax   (1,433)       (2,769)
Total other comprehensive income (loss) for the period   (3,137)   593    (4,713)
Total comprehensive loss for the period   (38,099)   (23,418)   (101,636)
Comprehensive loss attributable to non-controlling interests   (214)   (224)   (1,088)
Comprehensive loss attributable to owners of the Company   (37,885)   (23,194)   (100,548)

 

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Consolidated Statements of Changes in Equity (Unaudited)

(In thousands of USD)

 

       Share                             
       premium                             
       and   Remeasurement       Foreign           Non-     
       capital   of   Treasury   currency   Accumulated       controlling   Total 
   Share capital   reserves   IAS 19   shares   reserve   loss   Total   interests   equity 
Balance as of December 31, 2024   409,145    1,304,617    (2,062)   (167,651)   1,044    (687,101)   857,992    715    858,707 
Loss for the period                       (23,775)   (23,775)   (236)   (24,011)
Other comprehensive income for the period                   581        581    12    593 
Exercise of warrants, options and vesting of RSUs   1,828    (1,828)                            
Share-based payments       (2,407)                   (2,407)       (2,407)
Balance as of
March 31, 2025
   410,973    1,300,382    (2,062)   (167,651)   1,625    (710,876)   832,391    491    832,882 

 

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Consolidated Statements of Cash Flows (Unaudited)

(In thousands of USD)

 

   Three Months Ended   Year ended 
   March 31,   December 31, 
   2024   2025   2024 
Cash flow from operating activities:            
Net loss   (34,962)   (24,011)   (96,923)
Adjustments:               
Depreciation and amortization   2,066    1,500    6,675 
Impairment losses       1,229    1,283 
Financing income, net   (9,798)   (7,383)   (42,183)
Loss (gain) from revaluation of financial assets and liabilities accounted at fair value   25,811    (8,717)   52,288 
Share-based payments   3,460    (2,407)   13,883 
Other   43    (32)   217 
    21,582    (15,810)   32,163 
Changes in assets and liabilities:               
Decrease (increase) in inventory   (2,287)   340    387 
Decrease (increase) in other receivables   4,589    (371)   6,078 
Decrease (increase) in trade receivables   313    (2,881)   2,950 
Decrease in other payables   (1,917)   (4,026)   (1,150)
Increase (decrease) in employee benefits   51    38    (562)
Increase (decrease) in trade payables   (345)   26,362    47 
    404    19,462    7,750 
Net cash used in operating activities   (12,976)   (20,359)   (57,010)
                
Cash flow from investing activities:               
Change in bank deposits   (6,594)   177,395    100,530 
Interest received   17,154    14,010    42,806 
Change in restricted bank deposits   (11)   474    (377)
Acquisition of property plant and equipment   (776)   (295)   (2,196)
Acquisition of intangible asset   (711)       (711)
Net cash from investing activities   9,062    191,584    140,052 
                
Cash flow from financing activities:               
Lease payments   (1,140)   (1,082)   (4,524)
Repayment long-term bank debt   (73)   (35)   (180)
Proceeds from non-controlling interests           555 
Amounts recognized in respect of government grants liability   (36)   (43)   (180)
Payments of share price protection recognized in business combination   (363)       (363)
Repurchase of treasury shares   (51,565)       (69,755)
Net cash used in financing activities   (53,177)   (1,160)   (74,447)
Increase (decrease) in cash and cash equivalents   (57,091)   170,065    8,595 
Cash and cash equivalents at beginning of the period   309,571    317,169    309,571 
Effect of exchange rate fluctuations on cash   (622)   204    (997)
Cash and cash equivalents at end of the period   251,858    487,438    317,169 
                
Non-cash transactions:               
Property plant and equipment acquired on credit   286    54    69 
Recognition of a right-of-use asset   158    55    1,275 

 

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Non-IFRS Measures

 

The following are reconciliations of income before taxes, as calculated in accordance with International Financial Reporting Standards (“IFRS”), to EBITDA and Adjusted EBITDA, as well as of gross profit, as calculated in accordance with IFRS, to Adjusted Gross Profit:

 

   For the Three-
Month Period
 
   Ended
March 31,
2025
 
   In thousands
of USD
 
Net loss   (24,011)
Tax expenses   23 
Depreciation and amortization   1,500 
Interest income   (9,309)
EBITDA (loss)   (31,797)
Finance income from revaluation of assets and liabilities   (8,396)
Exchange rate differences   1,573 
Share-based payments   (2,407)
Desktop Metal litigation related expenses   28,069 
Desktop Metal and Markforged transaction related expenses   1,515 
Restructuring costs   1,180 
Impairment losses   1,229 
Adjusted EBITDA (loss)   (9,034)
      
Gross profit   5,906 
Depreciation and amortization   209 
Share-based payments   190 
Adjusted gross profit   6,305 

 

EBITDA is a non-IFRS measure and is defined as earnings before interest income, income tax, depreciation and amortization. We believe that EBITDA, as described above, should be useful in evaluating the performance of our business. EBITDA facilitates operating performance comparisons from period to period and company to company by backing out potential differences caused by variations in capital structures (affecting interest expenses (income), net), and the age and depreciation charges and amortization of fixed and intangible assets, respectively (affecting relative depreciation and amortization expense, respectively) and EBITDA is useful to an investor in evaluating our operating performance because it is widely used by investors, securities analysts and other interested parties to measure a company’s operating performance without regard to the items mentioned above. 

 

Adjusted EBITDA is a non-IFRS measure and is defined as earnings before interest income, income tax, depreciation and amortization, share-based payments, exchange rate differences, finance expenses (income) for revaluation of assets and liabilities, Desktop Metal litigation related expenses, Desktop Metal and Markforged transaction related expenses, restructuring costs and impairment losses. We believe that Adjusted EBITDA, as described above, should also be useful in evaluating the performance of our business. Like EBITDA, Adjusted EBITDA facilitates operating performance comparisons from period to period and company to company by backing out potential differences caused by variations in capital structures (affecting other financial expenses (income), net), and the age and depreciation charges and amortization of fixed and intangible assets, respectively (affecting relative depreciation and amortization expense, respectively), as well as from share-based payment payments, restructuring costs and impairment losses, and Adjusted EBITDA is useful to an investor in evaluating our operating performance because it is widely used by investors, securities analysts and other interested parties to measure a company’s operating performance without regard to non-cash items, such as expenses related to share-based payments.

 

Adjusted gross profit, excluding depreciation and amortization and share-based compensation expenses, is a non-IFRS measure and is defined as gross profit excluding amortization expenses. We believe that adjusted gross profit, as described above, should also be useful in evaluating the performance of our business. Adjusted gross profit facilitates gross profit and gross margin comparisons from period to period and company to company by backing out potential differences caused by variations in amortization of inventory and intangible assets. Adjusted gross profit is useful to an investor in evaluating our performance because it enables investors, securities analysts and other interested parties to measure a company’s performance without regard to non-cash items, such as amortization expenses. Adjusted gross margin is calculated by dividing the adjusted gross profit by the revenues.

 

EBITDA and Adjusted EBITDA, and Adjusted gross profit can be useful in evaluating our performance by eliminating the effect of financing and non-cash expenses such as share-based payments, however, we may incur such expenses in the future, which could impact future results. In addition, other companies, including companies in our industry, may calculate non-GAAP metrics differently or not at all, which may reduce the usefulness of this measure as a tool for comparison

 

 

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